Midwest Professional Planners LTD. Acquires 35,612 Shares of Torm Plc $TRMD

Midwest Professional Planners LTD. increased its holdings in shares of Torm Plc (NASDAQ:TRMD) by 64.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 91,010 shares of the company’s stock after buying an additional 35,612 shares during the period. Midwest Professional Planners LTD.’s holdings in Torm were worth $1,782,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Quarry LP bought a new stake in shares of Torm during the third quarter worth approximately $35,000. Tower Research Capital LLC TRC bought a new stake in shares of Torm during the second quarter worth approximately $46,000. Wexford Capital LP bought a new stake in shares of Torm during the third quarter worth approximately $120,000. Invesco Ltd. bought a new stake in shares of Torm during the second quarter worth approximately $190,000. Finally, PharVision Advisers LLC bought a new stake in shares of Torm during the third quarter worth approximately $214,000. 73.89% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Torm in a report on Friday, April 17th. Pareto Securities cut shares of Torm from a “hold” rating to a “hold” rating in a report on Wednesday, May 13th. Wall Street Zen upgraded shares of Torm from a “buy” rating to a “strong-buy” rating in a report on Saturday. Finally, Evercore set a $35.00 price objective on shares of Torm in a report on Tuesday, April 21st. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, Torm has a consensus rating of “Moderate Buy” and an average target price of $35.00.

Torm Stock Down 2.5%

Shares of NASDAQ TRMD opened at $31.68 on Wednesday. The stock has a market cap of $3.23 billion, a P/E ratio of 9.32 and a beta of 0.14. The firm has a 50 day moving average price of $29.65 and a 200 day moving average price of $25.38. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.20 and a current ratio of 1.40. Torm Plc has a 52-week low of $15.79 and a 52-week high of $35.33.

Torm (NASDAQ:TRMD) last issued its quarterly earnings data on Wednesday, May 13th. The company reported $1.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.15). The firm had revenue of $402.00 million for the quarter, compared to analyst estimates of $297.43 million. Torm had a net margin of 24.45% and a return on equity of 15.81%.

Torm Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 11th. Stockholders of record on Thursday, May 28th will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 8.8%. The ex-dividend date is Thursday, May 28th. Torm’s dividend payout ratio is 60.00%.

Torm Company Profile

Torm A/S (NASDAQ: TRMD) is an international shipping company specializing in the transportation of refined petroleum products. The firm owns and operates a modern fleet of product tankers, including both Handysize and MR vessels, which are designed to carry a broad range of clean petroleum cargoes such as gasoline, jet fuel and diesel. Torm’s core business revolves around voyage and time-charter contracts with major oil companies, trading houses and other energy sector clients around the world.

The company’s fleet is deployed on global trade routes, with particular focus on major refining and consumption regions in Europe, North America and Asia.